H.4.1 Factors Affecting Reserve Balances of Depository Institutions

STATEMENT FOR THE PRESS Released for publication Board of Governors Friday morning, July 10; of the Federal Reserve System not earlier. July 9, 1936 CONDITION OF FEDERAL RESERVE BANKS The daily average volume of Federal Reserve bank credit outstanding during the week ended July 8, as reported by the Federal Reserve banks, was $2,4-74,000,000, an increase of $1,000,000 compared with the preceding week and a decrease of $1,000,(XX) compared with the corresponding week in 1935. On July 8 total Reserve bank credit amounted to $2,472,000,000, a decrease of $1,000,000 for the week. This decrease corresponds with decreases of $217,000,000 in Treasury cash and deposits with Federal Reserve banks and #8,000,000 in money in circulation, and an increase of $10,000,000 in monetary gold stock, offset in part by increases of $225,000,000 in member bank reserve balances and $7,000,000 in nonmember deposits and other Federal Reserve accounts. Member bank reserve balances on July 8 were estimated to be approximately $2,880,000,000 in excess of legal requirements. Relatively small changes were reported in holdings of discounted and purchased bills, industrial advances and United States Government securities. Changes in the amount of Reserve bank credit outstanding and in related items during the week and the year ended July 8, 1936, were as follows! since July 8 July 1 July 10 1936 1936 1935 (In millions of dollars) Bills discounted 3 - 1 - 4 Bills bought 3 - 2 U. S. Government securities 2/30 Industrial advances (not including 24 million commitments - July 8) 30 + 2 Other Reserve bank credit 6 + 1 + 3 TOTAL RESERVE BANK CREDIT 2,472 - 1 - 1 Monetary gold stock 10,622 +10 +1,499 Treasury and national bank currency 2,-498 - 5 Money in circulation 6,2-42 - 8 + 691 Member.bank reserve balances 5,814 +225 + 762 Treasury cash and deposits with F.R. banks 3,015 -217 + 83 Nonmember deposits and other F.R. accounts 519 + 7 - 46 (B-801) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Released for publication Friday morning, July 10,1936; not earlier. 3-S01a ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) July 8,1936 July 1,1936 July 10,1935 A S S E TS Gold certificates on hand and due from U. S. Treasury g,106,569 8,106,541 6,226,231 Redemption fund - F. R. notes 12,542 12,949 22,529 Other cash 271,008 266,238 241,301 Total reserves 8,390,119 8,385,728 6,490,061 Bills discounted: Secured "by U.S.Gov't obligations,direct or fully guaranteed 1,438 2,006 3,939 Other bills discounted . .. l.gqg 2,215 2,902 Total "bills discounted * * . . . . 3.296 4,221 6,S4l Bills bought in open market ; , ; . , . 3,085 3*077 4,687 Industrial advances . i . 29,500 29,785 28,175 U. S. Government securities: Bonds . . . . .. . 315,673 315,673 292,Ul6 Treasury notes 1,494,218 1,494,218 1,528,108 Treasury bills 620,337 620,337 609,889 Total U. S. Government securities 2,430,228 2,430,228 2,430,413 Other securities 181 181 Total bills and securities . . .. 2,466,290 2,467,492 2,470,116 Dae from foreign banks 229 237 637 F. R. notes of other banks 18,821 20,020 21,863 Uncollected items 59S.237 678,636 472,720 Bank premises 48,054 4-8,051 49,849 All other assets 42,533 42,331 44,709 TOTiL ASSETS 11,564,283 11,642,495 9,549,955 L I A B I L I T I ES F. R. notes in actual circulation . . 4,o4o,332 4,046,086 3,267,401 Deposits: Member bank - reserve account ... , 5,814,251 5.5S3,131'- 5»051,797 U.S.Treasurer - General account . . . 50o,644 731,016 101,588 Foreign bank 60,321 55.192 24,930 Other deposits 202,795 201,277 277.526 Total deposits 6,584,011 6,576,619 5,455,841 Deferred availability items 593,077 673,759 470,026 Capital paid in 130,988 130,947 l46,6l3 Surplus (Section 7) 1%,501 145,501 144,893 Surplus (Section 13 b) 26,513 26,513 20,871 Reserve for contingencies . . . . . .. 3^»H7 3^«H7 3°»7®0 All other liabilities . . 9,744 8.953 13.530 TOTAL LIABILITIES 11,564,283 11,642,495 9,549,955 Ratio of total reserves to deposit and F. R. note liabilities combined . .. 79.0$ 78.9$ 74.4$ Commitments to make industrial advances 23,844 23,870 20,850 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS OH JULY 8, 1936 (l» thousands of dollars) B-80lb A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. K:a ns.Cy. Dallas 3i an Fran Gold certificates on hand and diu e from 0. S. Treasury 8,106,569 519,020 3,022,871 415,354 580,334 275,362 226,134 1,740,008 242,402 177,751 228,260 1:6 3,112 5:1 5,961 Redemption .fund - F.R.notes 12,542 2,097 1,198 1,088 656 451 1,683 797 912 228 994 413 2,025 Other cash 271,008 28,064 72,958 37,284 24,692 14,744 10,158 32,310 11,639 7,015 12,985 5,857 13,302 Total reserves 8,390,119 549,181 3,097,027 453,726 605,682 290,557 237,975 1,773,115 254,953 184,994 242,239 1:6 9,382 531,288 BUrLp discounted » Securect by U.S.Gov't obligations direct or fully guaranteed 1,438 90 1,101 145 —- 17 — — 25 —. — 50 10 Other bills discounted 1,858 65 1,302 — 13 49 21 —• 6 — 56 338 8 Total bills discounted 3,296 155 2,403 145 13 66 21 — 31 — 56 388 18 Bills bought in open market 3,085 224 1,103 316 293 120 108 384 87 61 86 86 217 Industrial advances 29,500 2,861 7,331 5,111 1,622 3,562 724 2,113 554 1,307 1,006 1,632 1,677 U. S. Government securities s Bonds 315,673 21,006 85,802 27,431 30,629 16,628 12,776 37,553 16,876 11,249 15,968 12,155 27,600 Treasury notes 1,494,218 99,429 406,145 129,844 144,977 78,707 60,474 177,757 79,886 53,244 75,580 57,530 1:3 0,645 Treasury bills 620,337 41,278 168,614 53,905 60,189 32,676 25,106 73,797 33,165 22,105 31,379 23,885 54,238 Total U.S.Gov't securities 2,430,228 161,713 660,561 211,180 235,795 128,011 98,356 289,107 129,927 86,598 122,927 93,570 212,483 Other Securities 181 — — — — — — — — — 181 — — Total bills and securities 2,466,290 1:6 4,953 671,398 216,752 237,723 131,759 99,209 291,604 130,599 87,966 124,256 95,676 214,395 Due from foreign banks 229 18 83 23 22 10 8 28 4 3 7 7 16 F. Jl. notes of other banks 18,821 368 4,159 764 1,356 1,104 1,202 2,984 1,563 1,480 1,487 541 1,813 Uncollected items 598,237 63,910 138,714 43,240 55,762 55,588 19,404 83,212 27,277 18,590 36,994 24,248 31,298 Bank premises 48,054 3,113 10,854 5,080 6,525 2,919 2,284 4,830 2,452 1,531 3,360 1,526 3,580 All other assets 42,533 316 31,814 3,526 1,736 1,115 1,447 740 275 363 411 288 502 TOTAL ASSETS 11,564,283 781,859 3,954,049 723,111 908,806 483,052 361,529 2,156,513 417,123 294,927 408,754 291,668 782,892 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ASSETS AMD LIABILITIES OF THE FEDERAL RESERVE BANKS Off JULY B, I936 (I11 thousands of dollars) B-SOlc L I A B I L I T I ES Total Boston New York Phila. CIeve. Rich. Atlanta Chicago St .Louis Mirm. Kans.Cy, Dallas San Fran. F.R,notes in actual circulation 4,040,332 365,762 822,232 301,160 393,064 190,626 179,566 923,996 174,262 134,190 152,087 87,875 325,512 Deposits: Member bank - reserve account 5,814,251 300,734 2,470,928 317,924 396,822 195,157 122,690 U.S.Treasurer - General account 506,644 21,149 222,539 21,135 20,927 23,339 22,709 66,854 21,102 22,186 20,122 20,471 24,111 Foreign bank 60,321 4,479 21,893 5,629 5,568 2,663 2,118 7,021 1,816 1,40 1,750 1,755 4,176 Other deposits 202,795 2,787 157,303 1,907 5,740 3,038 3,161 1,778 8,271 4,536 309 2,208 11,757 Total deposits 6,584,011 329,149 2,872,663 346,595 429,057 224,197 150,678 1,106,117 204,144 143,657 208,071 167,261 402,422 Deferred availability items 593,077 63,355 135,382 42,227 55,283 53,535 18,015 82,437 28,620 17,869 38,778 25,534 32,042 Capital paid in 130,988 9,367 50,976 12,284 12,649 4,705 4,237 12,06$ 3,768 2,974 3,961 3,814 10,188 Surplus (Section 7) 145,501 9,902 50,825 13,406 14,371 5,186 5,616 21,350 4,655 3,149 3,613 3,783 9,645 Surplus (Section 13b) 26,513 2,874 7,744 4,231 1,007 3,448 754 1,391 546 1,003 1,142 1,252 1,121 Reserve for contingencies 34,117 1,413 8,849 3,000 3,111 1,279 2,519 7,573 894 1,456 846 1,328 1,849 All other liabilities 9,744 37 5,378 208 264 76 144 1,584 234 629 256 821 113 TOTAL LIABILITIES 11,564,283 781,859 3,954,049 723,111 908,806 483,052 361,529 2,156,513 417,123 294,927 408,754 291,668 782,892 Conrniitaients to make industrial advances 23,844 2,771 9,412 280 1,448 2,328 288 77 1,758 91 404 538 4,449 MATURITY DISTRIBUTION OF BILLS AHD SECURITIES 91 days to Total Within 15 days 16 to 30 days 31 to 60 days 6l to 90 days Over 6 months 6 months Bills discounted 3,296 1,681 658 48 715 194 Bills bought 3,085 23 4 664 92 2,095 Industrial advances 29,500 1,429 411 623 757 2,082 24,198 U. S. Government securities 2,430,228 26,341 27,979 65,536 129,459 348,815 1,832,098 Other securities 181 181 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDEML BESEKVE 1J0TE STATEMENT OH JULY S, 1936 (In thousands of dollars) B-SOld Total Boston Hew York Phila. Cleve, Rich., Atlanta Chicago St.Louis Minn. Hans.Cy. Dallas San Fran. Federal Reserve notes: Issued to F.R. hank by 7 Jl.agent 4,345,447 386,239 928,494 316,£98 407,572 201,522 200,2.93 960,741 184,563 129,301 166,023 96,947 366,854 Held by Federal Reserve hank 305,115 20,477 106,262 15,738 14,508 10,896 20,727 36,745 10,301 5,111 13,936 9,072 41,342 In actual circulation 4,040,332 365,762 822,232 301,160 393,064 190,626 179,566 923,996 174,262 124,190 152,087 87,875 325,512 Collateral held hy agent as security for notes issued to hank: Gold certificates on hand and due from U. S. Treasury 4,342,023 396,000 945,706 318,000 410,000 202,000 172,685 966,000 173,632 129,000 164,000 98,000 367,000 Eligible paper 2,043 155 1,207 145 13 66 21 — 31 — 49 338 18 U. S. Gov't securities 47,000 — — — — — 30,000 — 12,000 2,000 3,000 — — Total collateral 4,391,066 396,155 946,913 318,145 410,013 202,066 202,706 966,000 185,663 131,000 167,049 98,338 367,018 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis